Market Overview
The global Fast Attack Craft Market is a very dynamic market and is expected to witness high growth over the forecast period. The growth of Fast Attack Craft Market is influenced by the increasing emphasis on maritime security, increase in seaborne dominance, the surging concerns on sea-based trade and the increase in adoption of ship-based missiles. However, the growth of this market is expected to be restrained by the deployment of laser weapon systems against the fast attack crafts and the issues related to the maintenance of the vessels.
Based on type, the non-missile armed FAC is expected to grow at the highest CAGR. Offshore patrol vessels (OPVs) segment is one of the major segments of the naval vessels markets. They are classified into two major types, and they are high-end war-fighting vessels with integrated gun systems, and basic patrol vessels integrated with sensors, for low-intensity missions. These FACs are widely used by coastal guards, naval, and police forces for various purposes, including the coastal region patrolling, search and rescue, Economic Exclusion Zones (EEZs) patrol, and humanitarian operations. The non-missile armed boats are also designed to carry one or more guns to attack small-scale coastal targets. Due to the lack of advanced firepower, such boats are not deployed in naval warfare. Fast attack craft market insight to be seen in forecast period and with huge profit.
Market Segmentation
This study provides an overview of the global Fast Attack Craft Market, tracking one market segment across four geographic regions. The report studies key players, providing a five-year annual trend analysis that highlights market size, volume and share for North America, Europe, Asia Pacific (APAC) and Rest of the World (ROW). The report also provides a forecast, focusing on the market opportunities for the next five years for each region. The scope of the study segments the global Fast attack craft market by its type and region.
By Type
Based on the types of segments, the fast attack craft market has been divided into the non-missile armed FAC and missile-armed FAC.
Out of all, the missile armed FAC segment is registered to meet the 61.44% Fast Attack Craft Market Share for 2018 and is further predicted to generate a higher market share over the upcoming years.
Missile armed FAC
Non-missile armed FAC
By Region
North America
Asia Pacific
Europe
Rest of the World
Key Players
The Fast attack craft market drivers includes BAE Systems plc. (U.K.), Damen Shipyards Group (Netherlands), Fincantieri - Cantieri Navali Italiani S.p.A. (Italy), Goa Shipyard Limited (GSL), Navantia (Spain), China Shipbuilding & Offshore International Co Ltd (China), CMN Group(France), Garden Reach Shipbuilders and Engineers (India), Hanjin Heavy Industries & Construction (South Korea), and Lürssen (Germany).
Regional Analysis
The global Fast attack craft market industry has been segregated into various geographical locations such as:
Europe (France, Germany, UK, Russia, Italy, Spain, and the rest of Europe)
The Middle East and Africa (Saudi Arabia, South Africa, UAE, Egypt, and the rest of MEA)
North America (Mexico, U.S., and Canada)
South America (Peru, Argentina, Brazil, and Chile)
Asia-Pacific (South Korea, India, China, Japan, and the rest of Asia-Pacific).
Among these, the Asia-Pacific market is considered the lucrative region for its naval laser defense eyewear firms. This is because of the increasing demand for naval systems among various countries (Japan, South Korea, China, and India) and the modernization of naval systems. Moreover, the North American region is projected to generate a higher Fast Attack Craft Market Size for the forecast period due to advanced naval systems and components adoption in combat operations.
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